News Column

IASB and FASB Host Live Webcast on New Revenue Recognition Standard

May 29, 2014



NORWALK, Conn., May 29 -- The Financial Accounting Standards Board issued the following news release:

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) will host IN FOCUS: Revenue from Contracts with Customers, a live, one hour webcast that provides a high-level overview of its new guidance on revenue recognition. The webcast takes place on Thursday, June 5, beginning at 10:00 a.m. Eastern Daylight Time/3:00 p.m. British Summer Time.

The webcast is offered free of charge to those who preregister for the event. Additionally, U.S. participants in the live broadcast will be eligible for up to 1 hour of continuing professional education (CPE) credit.

The webcast will feature IASB Member Patricia McConnell and FASB Member Larry Smith discussing the Boards' new guidance. The areas covered will include:

1. Background of the project and expected improvements 2. An overview of the five-step model and detailed discussion around key topics, including recognizing revenue over time, contract costs, disclosures, transition, and effective date 3. A discussion of the Transition Resource Group 4. A question & answer period.

An archive of the webcast will be available on the IASB and FASB websites through Wednesday, September 3, 2014. (CPE credit is not available to those who view only the archived webcast, nor is it available for group viewings of the live broadcast.)

For more information about the webcast, log on to www.ifrs.org or www.fasb.org.

[Category: Law/Legal]

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